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We’ve to recognise workers in informal sector: Muhammad Yunus tells Rahul Gandhi

“Women are the remotest of all. Looking at the structure, this is the lowest in the structure. They have no voice, nothing in the society; traditions make them completely separate. They are the basic strength of the society.”

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Muhammad Yunus Rahul Gandhi

New Delhi, July 31 : Nobel Peace Prize winner Muhammad Yunus said on Friday that novel coronavirus had laid bare the weaknesses in the society and lamented that economics doesn’t recognise workers employed in the informal sector. He stressed the need for according recognition to such workers.

During his conversation with Congress leader Rahul Gandhi, the founder of Bangladesh Grameen Bank said: “The financial system is designed in a very wrong way. And the Covid-19 crisis has revealed the weaknesses of the society in a very ugly way; you can see it now.

“These are hidden away into the society; we get used to it; the poor people are there; migrant workers are in the city, hiding in the city. But suddenly, we see millions of them on the highway trying to go home. And then on foot, thousand-mile journeys. That is the saddest part that Covid-19 pandemic has revealed. We have to recognise these people.”

He was responding to Rahul Gandhi’s question about the finances of the poor, and the impact of poverty on women, and how this Covid-19 crisis and ensuing economic crisis was going to affect the poor.

Yunus said that economics does not recognise these people. “They call it the informal sector. Informal sector means we have nothing to do with them; they are not a part of the economy. Economy begins with the formal sector; we are busy with the formal sector. If we can only finance them, we can take care of them, pay attention to them, they’ll be moving up the ladder,” the Nobel laureate said.

Muhammad Yunus and Grameen Bank were awarded the Nobel Peace Prize for 2006. He set up the Grameen Bank in Bangladesh in 1983, fueled by the belief that credit is a fundamental human right. His objective was to help the poor escape poverty by providing loans on terms suitable to them and by teaching them a few sound financial principles so they could help themselves.

Yunus said: “Women are the remotest of all. Looking at the structure, this is the lowest in the structure. They have no voice, nothing in the society; traditions make them completely separate. They are the basic strength of the society.”

“All the entrepreneurial ability, when microcredit came and went to the women, they showed how much entrepreneurial capacity they had. That’s why microcredit is known to the whole world and not just in Bangladesh because they have shown their worth. They can fight; they have the skills; artisanal skills and all kinds of skills, beautiful skills. They are all forgotten because they all belong to what we call the informal sector,” he said.

In the last four months, the Congress leader has interacted with Nobel laureate Abhijit Banerjee, epidemiologist Johan Geseicke, Professor Nicholas Burns at Harvard’s Kennedy School, former RBI Governor Raghuram Rajan, and Indian industrialist Rajiv Bajaj.

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Lava launches budget smartphone for Rs 7,777

The smartphone sports a dual rear camera setup of 13MP + 5MP with LED flash and a13MP selfie camera with screen flash.

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Lava Z66 Mobile

New Delhi, Aug 4 : Domestic mobile manufacturer Lava on Tuesday launched a new smartphone Z66 as the latest addition in its Z series for Rs 7,777.

Lava Z66 features a 6.08-inch HD+ notch display with a 2.5D curved screen and 19:9 aspect ratio. The device is powered with a 1.6 GHz octa-core processor with 3GB RAM and a storage capacity of 32GB (expandable up to 128GB).

The smartphone is currently available at offline stores and will soon be available on Amazon and Flipkart in three colour variants – marine blue, berry red and midnight blue, the company said in a statement.

“This beautiful device not only lets you click the most stunning pictures but also delivers a power-packed all-round performance,” Tejinder Singh, Head- Product, Lava International said in a statement.

The smartphone sports a dual rear camera setup of 13MP + 5MP with LED flash and a13MP selfie camera with screen flash.

The camera also comes with features like beauty mode, night mode, HDR mode, burst mode, panorama, time lapse and slow motion, along with filters.

The device houses a 3950mAh battery and runs stock Android OS (Android 10).

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New Google Chrome extension brings more ad transparency

Named Ads Transparency Spotlight, the early version of the extension is available on the official Chrome Web Store, ZDNet reported on Sunday.

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Google-wefornews

San Francisco, Aug 3 : As part of its efforts to give people more visibility into the data used to personalise ads, Google has launched a new Chrome extension that lists all companies and services with a presence on the page including content delivery networks or analytics providers.

The extension includes the criteria used to show ads, the ad tech companies helping to display these ads, and the ad platform companies serving these ads on a web page.

Named Ads Transparency Spotlight, the early version of the extension is available on the official Chrome Web Store, ZDNet reported on Sunday.

At the time of release, it only shows information about those ads purchased through Google Ads that have implemented the Ad Disclosure Schema, a uniform system for advertisers to disclose how their ads work.

As others implement this schema, these ads will also appear in the extension.

“Over time, we hope the industry will incorporate the Ad Disclosure Schema into their ads,” Google said.

Google said it released the extension to provide a tool for transparency into the criteria being used to show ads.

“Our ultimate goal is to support a more transparent ad ecosystem globally,” the company added.

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TikTok parent to shift HQ from Beijing to London: Report

Earlier reports suggested that the talks were halted after the US President Donald Trump threatened to ban TikTok in the country over security concerns.

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Tik Tok

London, Aug 3 : Chinese unicorn ByteDance which owns the popular short video-sharing app TikTok has received approval from the British government to move its headquarters from Beijing to London, The Sun newspaper reported.

A formal announcement from ByteDance’s founders on setting up shop in London is expected soon, said the report on Sunday. While there is no official word on the deal yet, the newspaper said that the deal could see ByteDance’s founder Zhang Yiming and TikTok’s creator Alex Zhu relocating to London.

Last month, The Sunday Times reported that after months of negotiations with the UK’s Department for International Trade and government officials, ByteDance halted the talks about opening a global headquarters in London due to the “wider geopolitical context”.

That report that cited a source came barely a week after the UK government announced a ban on the purchase of new Huawei kits for 5G from next year and said that the Chinese telecom giant’s equipment will be completely removed from 5G networks by the end of 2027.

However, The Sun newspaper report said that the ministers in the British government have found it “absurd” to say no to a big company wanting to come to Britain.

The news comes amid Microsoft’s discussions with ByteDance to purchase TikTok’s operations in the US.

Earlier reports suggested that the talks were halted after the US President Donald Trump threatened to ban TikTok in the country over security concerns.

TikTok has faced allegations that it could share user data with the Chinese government. The company has denied such allegations.

Following a conversation between Microsoft CEO Satya Nadella and the US President, Microsoft said it was prepared to continue talks to explore purchase of TikTok in the US.

Microsoft hopes to complete the discussion by September 15.

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